The end of five years if he remains with the firm

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Reference no: EM131559187

Two parts to the question:

1a. Olympic Steel Co. offers current Executive Adam Kaliszewski a retention bonus of $50,000,000 dollars. He will receive the payment at the end of five years if he remains with the firm. How much should they set aside today, in an account that earns 6.35% compounded weekly to meet this obligation. (closest answer)

a. 34,805,501.91

b. 36,405,385.10

c. 34,805, 501.91

d. 20,325,327.52

1b. Refer to the previous question. What is the interest factor?

a. 1.0655

b. 1.4096

c. 1.3942

d. 0.9385

e. 0.6961

Reference no: EM131559187

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